Lafarge Surma Cement approves plan to buy Holcim Cement BangladeshStaff Writer | December 25, 2017
The board of Lafarge Surma Cement has approved the acquisition of 100% shares of Holcim Bangladesh from the LafargeHolcim Group.
Acquisition LafargeHolcim Group and Cementos Molins
Earlier, the Board of Directors’ of Lafarge Surma in its meeting dated November 02, 2016, announced exploring the opportunity of combining the business of Holcim Bangladesh and Lafarge Surma.
Lafarge Surma has conducted due diligence on Holcim Bangladesh and assessed the synergy potentials, based on which the Board has approved to progress on the proposed transaction.
Lafarge Surma and Holcim Bangladesh believe that, given the strong complementarity of their portfolio and the cultural proximity between the two companies, there is rationale in considering a potential combination that could deliver significant benefits to customers, employees and shareholders.
The agreement is based on principles consistent with a plan to build on the strengths and identities of the two companies.
Upon completion of the transaction, the company shall have a unique combination of production facilities, with the only clinker production facility in Bangladesh and four grinding plants across the country.
This synergy will enable the company to optimize its network of production facility and create more cost-effective routes to the market.
The company will also become a major player with a production capacity of 4.2 million tonnes and will offer a range of products including Supercrete, Holcim Strong Structure, Holcim Red and Holcim Gold. ■